EPFO eases PF withdrawal process, removes bank verification requirements

New Delhi, Apr 3, 2025: The Employees’ Provident Fund Organization (EPFO) has announced a significant change in the withdrawal process for provident funds, aiming to streamline claims for its nearly 8 crore members. Applicants seeking online withdrawals from their PF accounts will no longer need to upload an image of a cancelled cheque or have their bank account details verified by employers.

This move, which is expected to speed up claim settlements, eliminates two key requirements for members filing online claims. Previously, members were required to upload a cancelled cheque or an attested copy of their bank passbook, and employers had to approve the bank account details. However, the new policy has done away with both steps, as the bank account verification is already conducted at the time of seeding the account with the Universal Account Number (UAN).

The relaxation, which was initially piloted for KYC-updated members, has been extended to all EPF members after proving successful. Since the pilot launch on May 28, 2024, the policy has benefited over 1.7 crore members. The EPFO stated that this simplification will reduce claim rejections, which were often caused by poor-quality uploads, and ease the process for both members and employers.

With over 4.83 crore members already having their bank accounts seeded with UAN, the elimination of employer approval will directly benefit more than 14.95 lakh members whose approvals are still pending. Additionally, members wishing to update their bank details can now do so using Aadhaar-based OTP authentication.